Stocks In News Today: Allahabad Bank, CARE Ratings, ICRA, HG Infra, Sical Logistics
Here’s a look at the stocks in news moving the markets today.
Indian equity benchmarks opened higher on Friday after declining for three straight trading sessions.
At 10:28 am, the S&P BSE Sensex was trading 0.44 percent higher at 41,343.81 points while the NSE Nifty 50 was up 0.44 percent at 12,179.70. State Bank of India was the top gainer on the Nifty 50 index while JSW Steel Ltd. was the top loser.
Here’s a look at the stocks in news moving the markets today.
Allahabad Bank Rises After Getting Fresh Funds From Government
Shares of Allahabad Bank rose as much as 10.99 percent, the most since Aug. 26, to Rs 19.70 apiece.
On Thursday, the public sector bank said it will get a fresh capital infusion of Rs 2,153 crore from the government in 2019-20. The fund infusion will help the state-run lender meet regulatory norms before its merger with Indian Bank.
Trading volume in the Allahabad Bank stock was more than 12 times the 20-day average for this time of the day, Bloomberg data shows.
CARE Ratings, ICRA Rise After SEBI Imposes Penalty In IL&FS Case
Shares of CARE Ratings Ltd. and ICRA Ltd. rose as much as 3.49 percent and 1.78 percent, respectively.
This, a day after markets regulator Securities and Exchange Board of India imposed a Rs 25 lakh penalty on the ratings agencies for their failure to exercise skill, care and due diligence in rating the non-convertible debentures of IL&FS and its non-banking lending unit.
Trading volumes for CARE Ratings and ICRA stocks stood at more than 20 times and 15 times the 20-day averages for this time of the day, Bloomberg data shows.
HG Infra Wins NHAI Highway Project In Haryana, Shares Surge
Shares of HG Infra Engineering Ltd. rose as much as 10.91 percent intraday to Rs 269.80 apiece—the highest since Nov. 15, 2019.
The company has bagged a highway project worth Rs 522 crore in Haryana from the National Highways Authority of India.
HG Infra has been declared L-1 (lowest) bidder by NHAI for construction of proposed Rewari bypass (NH-11) as feeder route in Rewari district in the state of Haryana...on hybrid annuity mode amounting to Rs 522.02 crore, according to an exchange filing.
Trading volume was 30 times the 20-day average for this time of the day, Bloomberg\ data shows.
Sical Logistics Delays Interest Payment On Bonds, Shares Plunge
Shares of Sical Logistics Ltd. fell as much as 4.97 percent to Rs 16.25 apiece, the lowest since Oct. 25, 2019.
The logistics firm, part of the Coffee Day Group, has delayed payment of interest due on non-convertible debentures listed with the National Stock Exchange, according to an exchange filing on Thursday. The payments were due Friday.
Sical Logistics’ shares are down 16 percent in the past five days and fell 20 percent in the past 30 days, Bloomberg data shows. The stock has declined 89 percent in the past 52 weeks, according to the data.